Aquila, Vale reach shipping agreement

Aquila Resources
and Brazil’s Vale have reached agreement over shipping coal from their Isaac Plains mine in Queensland to customers, under a deal that will now apply until March 31.

The 50:50 joint venture partners were embroiled in a dispute over sending trains to port half filled with each party’s coal.

It is understood that Vale and Aquila could not reach agreement about sending separate shipments from the mine as it might set a precedent for legal proceedings at another of their joint ventures, Eagle Downs.

Aquila and Vale cannot agree on whether to use port capacity at Abbott Point or Dalrymple Bay to ship coal from Eagle Downs.